Videos: Govt Host Cost Of Living Summit
[Updated] The Cost of Living Summit is underway this morning [June 25] and you can tune in and watch the live stream below.
Part #3
Part #2
Part #1
Update 11.14am: in her opening remarks, Minister Alexa Lightbourne said, “Good morning,
“I wish to first acknowledge my ministerial colleagues here today and especially Hon. Kim Wilson, Minister of Health and the Hon. Zane Desilva, Minister of Housing and Municipalities who will provide presentations on the pillars of Healthcare and Housing. I thank the entire cabinet for their support and mutual commitment to the Ministry’s quest to provide affordable solutions.
“Welcome to each and everyone of you, and especially those who have tuned in virtually, welcome to the Bermuda Cost of a living Summit. Thank you for being here.
“I welcome you, formally as your Minister of Home Affairs, and fundamentally as a fellow Bermudian. A Bermudian who seeks to serve and partner in the promise that things can, and must, get better.
“Know that the decision to host this summit, at this time, so soon after being given our mandate – in February – was a thoughtful one. We accepted that there was a clear call for immediate action.
“I invite you to attend this cost of living summit not just as passive attendees.. But I invite your creativity and engagement as we refine our solutions.
“The cost of living in Bermuda has become a constant talking point and has become a weight that many can no longer not carry.
“This summit is organised for you. Those who are unclear, feel unheard, unseen and underserved.
“Know that this Summit was intentionally curated with a diversity of voices to provide clarity, confirm that we are listening, acknowledge your experiences and commit to serve your interests differently.
“As I look into this room filled with a cross-section of our village, the third sector, seniors, doctors, lawyers, youth, business owners, parliamentarians, senators, public officers and students thank you for joining the journey.
“The journey to this moment began months ago, and in truth, years before that.
“We build on the work of the fiscal responsibility panel, and the bermuda industrial union’s cost of living reports. I wish to also at this time acknowledge summer student Matthew Elliot and my former colleague Jordan Scott Furtado who supported the early research for this summit.
“And so… we embark upon this journey armed with a collection of data and insights that contextualize the lived experiences and business perspectives that often are presented in isolation.
“This summit seeks to evidence how a community, bruised by costs and worn thin by survival, Decided not to wait for change, but to become it.
“In February 2025, when this Government was given its mandate, the Ministry of Home Affairs was tasked with challenging the status quo. We were handed a mandate that was laced with varying experiences and perspectives about the government’s decisions, missteps and core mission related to living and the associated costs.
“The 2025 Throne Speech included the added confirmation that the Ministry would take up a threefold mandate one that we have simplified:
- To Enhance affordability,
- Strengthen consumer protection, and
- Promote sustainability.
“I was told not to host this summit. Told that it would not be possible. Told that egos would eclipse empathy. That self-preservation would win the day.
“Criticised by the location and a litany of distractions from the core goal of collective progress.
“But I believe in the possible, and believe that each of you, each business, each resident, and each stakeholder can turn our challenges into solutions.
“Today I invite your grace, as unlike other mandates and ministry structures, the Ministry of Home Affairs does not have a Department of Cost of Living nor are we accustomed to conference management.
“But what we know is that we must do things differently to get different results. We also know that it is important to understand the complexity of this challenge And so, we have stretched ourselves beyond all former responsibilities and committed to getting you all, key stakeholders, together in a room.
“This Ministry is determined to deliver. It is our hope that you will leave feeling equally charged with determination.
“We have devised a data-informed, stakeholder-driven, strategic framework for engagement …with the community, the third sector and business stakeholders.
“This framework includes deliberate actions to move from the missteps of the past and from describing the problem… to design solutions.
“In support of our mission:
- In March we began by launching the 2025 Cost of Living Survey, capturing responses from residents and businesses alike.
- In April and May conducted Focus groups with private sector employers and nonprofits.
- One-on-one consultations with those who know the inner workings of our various sectors.
- and we sought to understand the lived experiences of ordinary residents
- Today, here in June we are pleased to see the fruits of those efforts.
“We have been intentional about having purposeful dialogue with business leaders to both understand and present a forum to collaborate.
“What we have heard is not new or surprising; but what we decided — is that action is the only option.
“So this Summit — today — is the representation of action.
“We invite you on the journey of collaborarion:
- To better understand the data
- To better understand the lived experiences
- To be better equipped with the information needed to form your opinions
- To be challenged to review how we operate in our community;
- To join us in refining the solutions
- and accept that we must evolve from the way things have always been.
“We are no longer asking whether we should address the cost of living….we are asking what must be done to advance affordability? And who will join us in this effort?
“It is a moral summons to right the imbalance between what is lived and what is possible.
“We must right this imbalance because we have heard what you have told us:
A single mother of four small- children shared, “I pay my rent, then I pray for a miracle to feed my children. Miracles shouldn’t be a survival strategy.”
A senior who has said, “The Government is allowing businesses to take from us, knowing we have nothing more to give”
A small business owner stated, “As a business, our costs are never considered, we have become the Government’s
Minister Alexa Lightbourne added, “These are the real stories from our people. Therefore So we have an obligation to be here. We must forge a better and more affordable way forward for this mother, this senior, this small business owner and For so many more Bermudians just like them.
“I am gratified that we are not on this journey alone.
“I wish to especially thank the group of industry professionals who have graciously volunteered their time to ensure today struck the right balance.
“A huge thank you to Mr. Malcolm Butterfield, Mr. Neville Grant, Mrs. Lydia Dickens, Ministry special advisor Mrs. Latoya Smith, Permanent Secretary Mrs. Pandora Glasford, public officers Shavonna Simpson Ian Cameron.…our summer students who greeted you upon arrival this morning, and the Government’s Cmmunications Team.
“We are not here to rehearse problems.
“But to reveal the possibility.
“This summit is a bold invitation:
“To abandon the worlds and perspectives that divide us, and build on what binds us.
“To own our contributions to our challenges and be guided by belief.
“And so, I invite you to gather your tools of participation and come and build with us.
“So today, I ask that you:
- Be present and engaged in the dialogue
- Refrain from the desire to point to another entity to determine a solution, because ‘we are the ones we’ve been waiting for’
“There is a Commitment Wall in the back of this room.
“As you listen and engage throughout this day, how you can assist, no matter how big or small… From each of the various sectors you represent: The business owner reviewing you operations Teachers who are tasked with empowering our students to be sustainable.
“The lawyers who support business and the community.
“The consumer who makes a decision about what type of goods they believe to be essential
“I invite you to add your name, as a visual representation of your commitment to Bermuda’s solution.
“No government, no ministry, no stakeholder can do this alone. This summit represents an intervention focused on collaboration.
“And when you leave this room, leave with that commitment. Because that is the moment where policy meets purpose and possibility.
“I thank Ms. McKenzie Khol Tuckett and Shamori Talbot Woolridge our AM and PM masters of ceremony and the moderators and panelist who have volunteered to guide today’s conversations. And, I thank the cost of living commission who will receive the cost of living strategy implementing the next steps.
“And I thank each of you for showing up and for your commitment to listen and engage.
“At the close of this summit, I look forward to returning to sharing some of the successes that the Ministry has already made toward affordability. Those successes coupled with today’s insights provide me with hope for the road ahead.
“What I know for sure, is that the solutions we seek are within reach, and I invite you to Join In.. as the architects Of Solutions for a More Affordable Bermuda.
“Now, Let’s begin.”
Update. In her closing remarks, Minister Alexa Lightbourne said, “Good afternoon everyone, as I close out today’s events, I wish to state that today will not only be remembered for these amazing panels and discussions, it will also be remembered for what we dared to consider.
“I begin with heartfelt thanks to our Premier, the Hon. David Burt and my Cabinet colleagues the Attorney General, Sen. Kim Wilkerson, the Minister of Education, Sen. Crystal Caesar, and the Hon. Tinee Furbert Minister of Social Development and Seniors. I also thank Minister Kim Wilson and the Deputy Premier, Minister Zane DeSilva for their contributions.
“I thank each and every one of the panelist and moderators Jessica Mello, Liana hall, Arthur Wightman, Daniel Woods and Ryan Perinchief for their contributions.
“Today confirmed what we already knew: that no Ministry can carry the burden of the cost of living alone. Cross-sector action is not an option but rather our new requirement.
“I feel reassured about those who are in the room and have lifted compelled by duty. Today wasn’t a gathering of dignitaries, but a gathering of those who were compelled by duty.
“Today, we were confronted by not only the impacts of rising cost, but the cost of delay, the cost of division and the cost of Bermudians who who fall through the cracks.
“The Ministry of Home Affairs took a risk convening this summit but I leave reassured of our work.
“We asked stakeholders to enter not with defences, but with decisions.
“Not with positions, but with purpose.
“And I Thank You For Meeting That Mandate:
“You committed, to review, to act, to reconsider what is possible.
“For the single mother in Somerset, to the grandfather in St. George’s, to the farmers, the grocers, the retailers and the regulators, this was a summit to unpack our conclusions and invite another approach.
“It showed us what can happen when we choose to collaborate in the spirit of what’s best for Bermuda.
“We examined the mechanics beneath the headlines, trade routes, freight charges and regulations that may once have helped, but are worthy to be revisited.
“We spoke plainly about the cost of energy, about rent, and rules, and what’s fair.
“Together we have asked what role consumer choice plays in food costs. We didn’t just revisit problems. We reimagined solutions. We discovered that relief is not always far away, sometimes its within reach.
“This is not the end of the conversation, we have tested our tolerance and will continue to disrupt status quos to confirm what is possible. This is the start of a course of action.
“The Ministry has already begun to operationalize the outcomes of this Summit which will be part of our next steps:
- “Tenant and landlord protections are now in final legislative draft and will be released for public consultation this July.
- “A Ministerial Directive has been issued to consider impact on consumers and central to decisions made in electricity and telecommunications.
“We are encouraged by the proactive steps already being taken by several of our industry partners who have stepped forward in solidarity with the Government’s efforts to implement meaningful cost saving measures.
“These initiatives are designed to support all residents, especially our most vulnerable and those most in need.
“In the telecommunications sector, we are pleased that one of our leading providers has committed to providing a cost of living discount and capping their cost for the next three years.
“In the healthcare sector, we commend the commitment of a medical practitioners who in support of our efforts has pledged to suspend co-payments.
“In the food and grocery sector, retailers have taken decisive action by implementing immediate pricing and cost-saving strategies that will provide benefit at the checkout counter.
“These early commitments reflect a growing spirit of collaboration and shared responsibility. We look forward to working with more partners across all sectors to build a more resilient, inclusive, and supportive community for everyone.
“It is my hope, that this summit presents a beginning between what collaboration could look like, about informed discussions and informed solutions.
“Today we will be reminded of the importance of collaboration and shared resolve. While government leads… and industries adapt, the real power of transformation lies in how we, as neighbours, as Bermudians co-create solutions.
“Every household, every street, every parish has a role to play. From the way we support local vendors, to how we share resources, we are a community with the power to respond together.
“The Ministry will publish every confirmed commitment shared by our stakeholders at costofliving.gov.bm.
“I can assure you that the Ministry of Home Affairs has not stood still.
“We have moved deliberately and urgently because we know that it is required of us.
“Today is the beginning of a new path forward. We will compile today’s insights and data and publish a report.
“The Ministry and Cost of Living Commission armed with your views will lead these steps. It is the beginning of a new path forward.
“We have accepted that a more affordable Bermuda should be an obligation. Not just for Government. Not just for industry. But for all of us.
“So I thank the hardworking team at the Ministry of Home Affairs and our Ministry’s Permanent Secretary.
“The days ahead will be marked with conviction. The wall at the back of this room which I reinvite you to sign holds your commitments as a symbol of your presence and I thank you for sticking through a really long day.
“Thank you for joining and walking that path with us, now let’s keep walking, together.”
Thankfully, our reported retail inflation rate has consistently been lower than that reported by the U.S., the U.K. and Canada for the past years, so we are not suffering as much as people in those countries are.
Yes, and they are government statistics, so we know they must be completely accurate and reliable.
You must be kidding.
Stop using sarcasm it does not work in comments
@Hey… I completely agree with your comment
It flys right over the heads of most.
Joe speak for yourself or are you trolling?? Lol
I am reminding people what our Premier and Minister of Finance and our Minister of Economy have said consistently for the past 5 years.
How is that trolling?
Lets just see how much nothing comes out of this hot air ballon ride!!lol
Not one word about the cost of cars fOlks buy at $45,000 up. Or cost of air travel, carnival outfits. Just food. Add all of the cost incurred To say a watermelon and you will see why they cost more here . Add security guards, theft,parking attendants, ChrOstmas parties etc And more. ALL GET ADDED IN.
More talk and no action. Yes, let’s gather ’round, enjoy some food-go home and pretend we actually made a difference while people are still struggling. Brilliant.
Spot-On!
Theatrics like this are no more than “Idiot Placating” and stalling for time.
And sadly, most idiots fall for it.
There is a lot of easy fixes that can be implemented. But the lack of regulations that are in place impede on the cost of living drastically. There are what i call stupid taxes like the sugar tax. This affects the vast majority of imported items due to there is sugar in over 80% imported foods. the health tax that government implemented to get there hands into the insurance pool which skyrocketed the peoples deductibles and cost for healthcare. no regulation on rents. its a bidding war for most apartments here. they’re stopping the average family from being able to get a reasonable place. It gets down to who has the fatter wallet. Without better regulations and smart decisions by the current government thing will only get worse. There is tons of ways to make things better for all us locals but it takes change from up top. I have little faith anything will improve until something drastically happens in this island for change.
If there were “a lot of easy fixes that can be implemented” to make an economy more voter friendly they would have been implemented centuries ago.
No government can control a market driven economy. Market forces control our economy. That is why it is called a “market driven economy”. That is the sort of economy that Bermuda lives in and has lived in for more than 4 centuries.
one easy fix is to ban AIR BNB and private letting to short stay visitors unless a qualifying hotel… alot of housing was taken out of the rental and purchase market to satisfy the greed of the few. This would bring down rents making Bermuda accessible to Bermudians.
“a qualifying hotel”
And what hotels would you say were a qualifying hotel? Ariel Sands? Palmetto Bay? Bermudiana? Horizons? Elbow Beach? Sonesta Beach?
We used to have more than 12,000 hotel beds. Now we do not even have 3,000.
“to make an economy more voter friendly they would have been implemented centuries ago” what nonsense is this. Take your blinders off. its been dictatorship until 1963. Bermuda could only elect leaders after that date.
No its a thing called regulations. People cant line there pockets if regulations were in place here. With no regulations, prices are like the wild west out here. Limiting the rates of the rent, allowed markup on essential goods and services, having a Bermuda owned bank that allows low interest fixed loans for local home buyers to entice people to stay due to being able to own and pay for a piece of the rock. for example a $500,000 dollar loan its 1.3M to payback for that property. Its very off putting for any younger person to try and achieve. The Governments so called affordable housing complex turned into a 100M dollar joke and the rents are just as ridiculous or worse. so thats setting a great example for others. Young Bermudians like myself are struggling to survive here. Hence why a large portion of us a fleeing this country for better opportunities elsewhere.
“its been dictatorship until 1963. Bermuda could only elect leaders after that date.”
1963 was the first election with party politics, not the first election held in Bermuda.
As for your views on economics, I can see that you object to a free market economy.
“In February 2025, when this Government was given its mandate, the Ministry of Home Affairs was tasked with challenging the status quo.
The “mandate” was from approx 33% of the voting population or 25% of the total population. Hardly a mandate, more like a tired capitulation.
“Challenging the status quo”. The PLP is the status quo and has been since 1998. Clearly the PLP have failed miserably.
I’m sorry but what can any of these people at this summit do to reduce the high cost of living? I mean, what? Bermuda has been complaining about the cost of living since the year zero and it’s never reversed. There is absolutely NOTHING that any politician or CEO can do to alleviate the situation. Rents and home prices are not going down. IB will always get what it wants. This was a wasted exercise and demonstrates yet again that the PLP promised prosperity and their voters and supporters fell for it. Yet again.
At least we are talking, publicly, about it. No, it isn’t going to yield instant solutions, but it is a good beginning!
Yet another yap yap session. What was the breakdown of the attendees?
How many civil servants basically having a paid day off, lunch included. How many have the slightest idea of what it takes to run a business and what is involved in making the prices what they are?
How many managers from the food service industry? The people who know why prices are what they are.
Anyone from the wholesale industry?
Any real estate people who deal with rentals?
How many independent landlords were there? The people who provide the housing. The people who have to deal with Rent Control and the courts that don’t even uphold existing laws.
Anyone from the legal profession to speak of the costs landlords have to go through to hopefully ensure that every i is dotted and every t is crossed because if not a landlords case will get thrown out.
Six months, most likely longer, from now some report will be presented as if anything can be done about costs. That report will join all of the other reports in a dusty Government dungeon somewhere.
Tens of thousands spent and nothing to show for it.